An emerging-markets hedge fund founded by a SAC Capital Advisors veteran and backed by the Blackstone Group is readying a long-only fund.
Carrhae Capital has raised US$125 million for the new fund, which will launch next week. The vehicle will feature about 40 names from Carrhae's existing long book, Financial News reports.
The London-based firm's long bets have strongly outperformed over the past two years. Its flagship hedge fund rose 14.9% last year.
The new fund will give Carrhae, which debuted in 2011 with US$150 million from Blackstone, nearly US$700 million in assets under management. The firm is led by Ali Akay, who ran the largest portfolio at SAC's now-shuttered London office before his exit.